Updated CA Budget more than doubles climate mitigation funding for forests and other biocarbon

Today’s release of the “May Revision” of California’s budget included an updated expenditure plan for the revenues generated by the state’s cap and trade program to reduce greenhouse gas emissions. The updated expenditure plan more than doubled investments in natural and working land programs, and now includes:

– $92 million for forest health and urban forestry

– $65 million for wetlands and watershed restoration

– $20 million for healthy soils

– An unspecified amount of funding for farmland conservation, as part of the Affordable Housing and Sustainable Communities program

Statement of Laurie Wayburn, President of the Pacific Forest Trust, on Greenhouse Gas Reduction Fund investments in California’s Budget May Revise:

“We are thrilled that the updated budget more than doubles investments in forests and other natural and working lands to help combat global warming and prepare for a changing climate.

Smart, enduring, investments in forests — the largest, most expandable, proven terrestrial carbon sink — will help us meet California’s aggressive GHG reduction goals, while also safeguarding key sources of California’s water supply and helping wildlife adapt and survive.

The Governor clearly recognizes the importance of enhancing biological carbon “sinks” – in forests and other natural and working lands – in meeting our long-term climate goals and protecting the state’s natural infrastructure that safeguards our water supply, manages flood risk, and helps keeps California safe from extreme climate events.”